Small Rise In Russian Assets Frozen In Switzerland

2022-07-09 02:13:24

(MENAFN- Swissinfo) Soldiers carry the coffin of Ukrainian serviceman Andrii Verkhoglyad during his funeral ceremony at St. Michael's Golden-Domed Monastery in Kyiv, Ukraine, on July 8, 2022. He was killed in combat on June 23 near Svitlodarsk, Donetsk Oblast, amid the Russian invasion of Ukraine. Keystone / Oleg Petrasyuk

The Swiss authorities have so far frozen CHF6.7 billion ($6.8 billion) of assets belonging to sanctioned Russians. This represents a CHF400 million increase since mid-May.

This content was published on July 9, 2022 - 11:59 July 9, 2022 - 11:59 Keystone-SDA/SECO/sb

Pусский (ru) Увеличился объем российских активов, замороженных в Швейцарии

The State Secretariat for Economic Affairs (SECO), the government department responsible for handling sanctions, announced the figure on July 8. The total of blocked assets includes 15 properties.

The amount has hardly changed since CHF6.3 billion in frozen Russian assets were reported in mid-May.

“The amount of frozen assets does not make it possible to measure the effectiveness of the sanctions. It only provides a snapshot and can vary in one direction or the other,” SECO said in a statementExternal link on its website.

Switzerland has taken over all EU sanctions packages against Russia since the invasion of Ukraine on February 24; the latest being the European embargo on Russian crude oil imports, approved by the Swiss government on June 10.

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